NorthstarMLS is restructuring its board and embracing a new governance model
“The real estate industry is undergoing rapid transformation, driven by shifts in real estate agents’ perspectives, a changing business environment and rapid technological advancements,” Tim DainNorthstarMLS CEO said in a statement. “Our priority is to ensure that NorthstarMLS continues to advance as a vital asset for the licensed real estate professionals who rely on MLS services. This new governance structure is a proactive, forward-thinking step that will strengthen the organization.”
Under this new model, NorthstarMLS’s board of directors will be reduced from 20 to 11 directors, which the company says will help streamline decision-making. Of the eleven directors, six will be recruited and elected from outside the real estate sector.
“These independent directors will bring substantive expertise in critically challenging areas such as law, technology and marketing,” the MLS said in a statement.
The remaining five board members will be recognized real estate professionals actively involved in the NorthstarMLS service area.
In addition to the board restructuring, NorthstarMLS will also create a “small, nimble executive committee,” which the MLS says will work together to address new opportunities. The MLS added that the new structure requires its outside legal counsel to attend all board and executive committee meetings to address legal issues.
